RBI governor D Subbarao on Thursday declared Ernakulam as the first district in the country to achieve total and meaningful financial inclusion.

“Ernakulam was the first district in the country to achieve 100% family planning in 1970s. In 1990, Ernakulam was declared the first district to have 100% literacy. Today is the third step in the process… Ernakulam is becoming the first district in the country to achieve 100% financially inclusion,” Subbarao announced at a function attended by chief minister Oommen Chandy, finance minister K M Mani and Nandan Nilekani, chairman of Unique Identification Authority of India.

Meaningful financial inclusion project offers operative bank accounts with micro-credit, micro-insurance and remittances facilities to households. Subbarao said the district, with a population of 32 lakh, has 37 lakh savings bank accounts.

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